Strengthening Finance for the 7th Five Year Plan and SDGs in Bangladesh
The Independent Development Finance Assessment was launched today by the Honorable State Minister for Finance and Planning, on 19 March 2016, at the national event on Linking Finance and Results to Implement the Seventh Five Year plan in the context of the SDGs in Bangladesh, co-hosted by the Government of Bangladesh and UNDP. This study, undertaken by Economic Relations Division and UNDP, is the first assessment in Bangladesh covering all development finance flows, including private, public, external and domestic resources and articulating their potential links to national development priorities and the SDGs. The DFA seeks to support the achievement of ambitious resource mobilization targets of the government as elaborated in the 7th Five Year plan, such as enhancing domestic resources and private investments (to comprise 78% of the country’s total finance needs). Overall, it has been estimated that implementing the 7th Five Year plan will require over USDG 400 billion. The study analyses various finance flows and modalities and proposes possible institutional reforms across government ministries for enhancing the link between these investments and development results. Key recommendations are targeted to strengthening the result orientation and quality of the budget, expanding domestic resource mobilization in ways that enhance social redistribution and climate compatible development and leverage private sector resources to achieve the SDGs. The report include particular recommendations around the role of ODA, climate change finance and south-south cooperation in leveraging these other financial flows for the Seventh Five Year Plan and SDGs.